Clouds are now appearing in the sunny skies that once shined down on the Florida housing market.
After years of frenzied home sales, activity is now slowing in the Sunshine State, according to Realtor.com.
In December 2024, homes for sale remained on the market for an average of 70 days. That is nine more days than in December 2023 and eight more days than in November 2024.
In a summary of Realtor.com’s findings, senior economic research analyst Hannah Jones says:
“Warm markets, especially in Florida, saw inventory pile up and market pace slow more than was typical nationally. More generally, the South has seen inventory climb and market pace slow over the last year as buyers stick to the sidelines, thwarted by still-high home prices and mortgage rates.”
The following Florida communities are seeing homes sit on the market for an average of 90 days or more.
New Smyrna Beach
Properties on the market as of December: 651 homes
Median time that homes are on the market: 95 days
Median home list price: $499,675
New Smyrna Beach has 17 miles of beaches and is on the Indian River Lagoon, the most biologically diverse estuary in North America. It also offers excellent surfing.
Palm Coast
Properties on the market as of December: 1,136 homes
Median time that homes are on the market: 94 days
Median home list price: $417,925
Palm Coast is located between St. Augustine and Daytona Beach. You’ll find beaches and top golf courses, including one designed by Jack Nicklaus, in the city. Or, you can stroll through the gardens or hike or bike at Washington Oaks Gardens State Park.
Panama City
Properties on the market as of December: 825 homes
Median time that homes are on the market: 94 days
Median home list price: $342,102
Panama City, in Florida’s Panhandle, is the largest town between Pensacola and Tallahassee. It is located on the 69,000-acre St. Andrews Bay and features two walkable social districts full of waterfront dining and shopping.
Gainesville
Properties on the market as of December: 602 homes
Median time that homes are on the market: 91 days
Median home list price: $305,950
Gainesville is probably best known for being home to the University of Florida. The college town also has a vibrant music and performing arts scene.
Add a Comment